Market & Ticker: MANTRA– OM/USDC

Date: 19/11/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario:

MANTRA (OM) Reached an all-time high; driven by mainnet launch, growing token holders, incentives, and partnerships in real estate and aviation. The recent US election open a larger perspective with an ease on US crypto market regulation opening perspective on MANTRA Token to the upside

As long as 3,15 remains a support valid in daily close a further direct bullish move is expected towards 7,90

Technical Key Elements:

• RSI indicator is positive without divergence
• The Moving average are support
• Fibonacci key resistance area at 7,90 and support at 3,15
• Elliot wave pattern is calling for a new upside trend in wave 5 V

Trade Idea conclusion: (buy)

• Strategic target 2: 12.20
• Tactical target 1: 7,90
• Tactical Pivot support: 3,15
• Tactical alternative bearish target: 2,10 and 1,20

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering.